Exchange Bank Has $7.11 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Exchange Bank cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,401 shares of the iPhone maker’s stock after selling 240 shares during the quarter. Apple accounts for about 5.7% of Exchange Bank’s holdings, making the stock its biggest holding. Exchange Bank’s holdings in Apple were worth $7,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AAPL. O Connor Financial Group LLC raised its stake in Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after acquiring an additional 41 shares during the period. 1620 Investment Advisors Inc. raised its position in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after buying an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC increased its position in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the last quarter. Menard Financial Group LLC increased its position in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares during the last quarter. Finally, Hanseatic Management Services Inc. increased its position in Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Down 4.8 %

Shares of NASDAQ:AAPL opened at $227.48 on Tuesday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business’s 50 day moving average price is $237.06 and its 200-day moving average price is $234.16.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Tuesday, January 21st. Bank of America lifted their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Citigroup boosted their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley set a $275.00 target price on shares of Apple in a report on Tuesday, February 11th. Finally, Rosenblatt Securities restated a “buy” rating and set a $262.00 price objective on shares of Apple in a report on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.88.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.